Slovenian entrepreneurs crowdfunded several million dollars, mostly on global platforms.

Lending crowdfunding

Others

Regulatory Context

Evidence

Is there a specific national regulation in place applying to crowdfunding?

No

General regulation

- Financial services and transactions related to offerings of transferrable securities provided by a Crowdfunding platform trigger requirements for a licence by Securities Market Agency.
- Intermediary services with respect to consumer credit and other loan agreements require a licence from the Bank of Slovenia or a Securities Market Agency.
- Donations and Rewards Crowdfunding Models would likely have tax, game of chance and consumer protection legal implications, amongst others.

Prospectus requirement

- Prospectus requirement for offer of securities
Threshold: EUR 100,000 in EU within 12 months.
- Other most relevant exceptions: (i) offering of securities to sophisticated investors only, or (ii) offering of securities to up to 150 natural or legal persons, who are not sophisticated investors.
- Simplified prospectus possible for offerings of securities below or equal to EUR 5,000,000 in EU within 12 months.

Main policy institution responsible in the country (ministry in charge of alternative finance):

Securities Market Agency and/or the Bank of Slovenia

Evidence

Matching funds initiatives

State-aid

Tax benefits

Crowdfunding guidelines for entrepreneurs / investors

Guidelines for researchers on crowdfunding for R&I

Additional insight

Success story of crowdfunding platfroms for R&I:

NAME: Adrifund
DESCRIPTION: Their vision is to make crowdfunding, which acts as an alternative to the traditional funding needed to start a creative or entrepreneurial idea, available to as many people as possible. The platform, being the first entering the national market, assisted projects in raising funds, that otherwise would not have been developed.
LINK: https://www.adrifund.com/

Success story of crowdfunding projects for R&I:

PROJECT NAME. Lumu Power
PLATFORM: Kickstarter
DESCRIPTION: The project aimed at developing an additional device for the iPhone series. Lumu Power is the light, exposure, flash and colour temperature meter for the iPhone. This project is linked to one of the most used devices in the world - the iPhone. This factor contributes to the popularity of the Lumu project. moreover, the promoters have been able to create a community motivated by the goal of seeing the project completed, even using neologisms to do so (ex: calling the contributors "Lumunauts" or "Lumutribe").
AMOUNT RAISED: € 283,514
LINK:https://www.kickstarter.com/projects/lumulabs/lumu-power-a-light-meter-f...

Best practice initiatives:

TRAVELSTARTER.COM Travelstarter.com was a crowdfunding initiative launched by two Slovenian entrepreneurs.
They support individuals and local businesses by helping them raise funds for their tourism and travel related projects (travelstarter.com).
Travelstarter supports different kinds of innovative tourism projects and ideas, whilst one of their special services is to provide support.
The platform, however, is based in the USA.

Policy measures:

Potential Policy Measures are indicated in the CASI policy brief for Slovenia as follows:
- Simplify the administrative procedures at all levels and in different areas (taxation, equity investments, reporting).
- Don’t change the legislation and rules so often, so companies can plan their activities and internalise the processes to address them.
- Decrease taxation and make it more attractive/simple for startup companies.
Try to reach bilateral agreements with some bigger markets (e.g. USA) to unify and simplify administrative issues to support the execution of crowdfunding projects and initiatives.

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